Andrews Company has $80,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding. The preferred stock is selling for $125 per share, and th

Andrews Company has $80,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding. The preferred stock is selling for $125 per share, and the common stock is selling for $20 per share.


Determine the amount of dividends to be paid to each class of shareholder for each of the following independent assumptions. If an amount box required no entry, leave it blank.
a. Preferred stock is nonparticipating and noncumulative.
Preferred stock is nonparticipating and cumulative. Preferred dividends are 2 years in arrears at the beginning of the year.
For 1(a), compute the dividend yield on the preferred stock and the common stock.


Carlyon Company listed the following items in its December 31, 2015, financial statements:
Investment in Man Company bonds $25,000
Dividends payable: preferred 4,000
Dividends payable: common 40,000
Preferred stock, 8%, $100 par 100,000
Common stock, $10 par 400,000
Additional paid-in capital on preferred stock 20,000
Additional paid-in capital on common stock 210,000
Retained earnings 270,000

During 2016, the following transactions occurred:
Feb. 2 Paid the semiannual dividends declared on December 15, 2015.
Mar. 5 Declared a property dividend, payable to common shareholders on April 5 in Man Company bonds being held to maturity. The bonds (which have a book value of $25,000) have a current market value of $31,000.
Apr. 5 Paid the property dividend.
July 6 Declared a $4 per share semiannual cash dividend on preferred stock and a $1.10 per share semiannual dividend on common stock, to be paid on August 17.
Aug. 17 Paid the cash dividends.
Oct. 15 Declared a 2% stock dividend on common stock to be issued on December 3. The current market price is $22 per share.
Dec. 3 Issued the stock dividend.
28 Declared a $4 and $1.20 per share semiannual cash dividend on preferred and common stock, respectively, to be paid on February 15, 2017.


Rolt Company began 2016 with a $110,000 balance in retained earnings. During the year, the following events occurred:

The company earned net income of $81,000.
A material error in net income from a previous period was corrected. This error correction increased retained earnings by $10,500 after related income taxes of $4,500.
Cash dividends totaling $14,000 and stock dividends totaling $18,000 were declared.
One thousand shares of callable preferred stock that originally had been issued at $105 per share were recalled and retired at the beginning of 2016 for the call price of $115 per share.
Treasury stock (common) was acquired at a cost of $24,000. State law requires a restriction of retained earnings in an equal amount. The company reports its retained earnings restrictions in a note to the financial statements.


Prepare a statement of retained earnings for the year ended December 31, 2016.


Monona Company reported net income of $29,975 for 2016. During all of 2016, Monona had 1,000 shares of 10%, $100 par, nonconvertible preferred stock outstanding, on which the year’s dividends had been paid. At the beginning of 2016, the company had 7,000 shares of common stock outstanding. On April 2, 2016, the company issued another 2,000 shares of common stock so that 9,000 common shares were outstanding at the end of 2016. Common dividends of $17,000 had been paid during 2016. At the end of 2016, the market price per share of common stock was $17.50.


Compute Monona’s basic earnings per share for 2016. If required, round your answer to two decimal places.
Compute the price/earnings ratio for 2016. If required, round your answer to one decimal place.

Calculate your paper price
Pages (550 words)
Approximate price: -

High Quality Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level or professional level, and we will assign a writer who has a respective degree.


Experienced Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.


Free Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document.


Timely Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension.A 100% refund is guaranteed.


100% Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.


24/7 Customer Services

Tutorpro support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Tutorpro Homework Help Services

At Tutorpro, we have top rated masters and PhD writers who will help you tacke that homework and score A+ grade. Tutorpro services covers all levels of education : high school, college, university undergraduate, masters and PhD academic level.


Essay Writing

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.



Admission Essays

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.



Essay Editing

Tutorpro academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.



Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. This is free because we want you to be completely satisfied with the service offered.